GameStop To Acquire Electronics Boutique

Two retail giants are set to become one, as video game retailer GameStop has agreed to buy its rival Electronics Boutique for $1.4 Billion in combined cash and stock.

GameStop operates approximately 1,800 stores in North America, and had revenue of $1.85 Billion in the previous year. Electronics Boutique has 2,000 stores in North America, the United Kingdom, Australia, and New Zealand, and had sales last year of roughly $2 Billion.

Antitrust regulators and shareholders of both companies must still approve the deal. The two largest shareholders of each company, as well as their boards, have already unanimously approved the deal.

4/18/2005 Frank Provo